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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2024
Fair Value Disclosures [Abstract]  
Fair values of financial instruments were as follows:
(Millions of dollars)March 31, 2024December 31, 2023
 Carrying
Amount
Fair
Value
Carrying
Amount
Fair
Value
Fair
Value
Levels
Reference
Assets
Finance receivables, net (excluding finance leases(1))
$20,880 $20,371 $20,746 $20,330 3Note 3
Liabilities
Long-term debt$24,701 $24,373 $23,612 $23,299 2
(1) Represents finance leases and failed sale leasebacks of $6.77 billion and $7.00 billion as of March 31, 2024 and December 31, 2023, respectively.